Managing Partner of AMA Consulting
A marketing plan is the blue print that outlines how your company will capture its share of your target market. The process of formulating a marketing plan can be broken down into 3 phases: Analysis of Company, Analysis of Business Environment, and Goal Setting.
Analysis of Company: SWOT Analysis
S: Strengths are internal factors that add value to your company. For example, superior financial position, patents, innovation, strong brand.
W: Weaknesses are internal factors, necessary for optimum performance that you lack. For example: Disadvantages compared to competitors, weak leadership, and poor technology.
O: Opportunities are external events that your company can capitalize on. For example, loosening of regulation, demographic shifts, removal of international trade barriers.
T: Threats are events or forces outside your control that may negatively affect your business. For example, natural disaster, market entry of a new competitor, social, economic trends.
Idaliz Ortiz is a Puerto Rican former multimedia journalist. She received a GLAAD award in 2017 for Spanish Programing - Special Feature, and was twice nominated for a Capital Emmy Award. She is currently the GWHCC Director of Marketing and Communications. Feel free to email her at email@example.com